§ MR. SMOLLETTsaid, he would beg leave to ask the Secretary of State for India, Whether application has been made on behalf of a London Joint Stock Company, called "The Madras Irrigation and Canal Company," for the guarantee of a minimum interest of 5 per cent per annum, payable from the Indian revenues, upon a capital of two millions sterling, for the purpose of enabling the said company to prosecute certain irrigation schemes in Cuttack and in other districts of Orissa; and whether it is intended to accede to this proposal?
MR. T. G. BARINGsaid, that an application had been addressed to the Secretary of State for India in Council for the guarantee in question, but the application was refused; and, he might add, that it was not the intention of the Secretary of State for India to accede to any such proposal.